Oshkosh Corporation announced at its Analyst Day last Friday that the company is increasing its fiscal 2016 financial estimates and expects to deliver year-over-year growth in revenue, operating income and earnings per share (EPS) in fiscal 2017.
“Oshkosh Corporation is a different integrated global industrial company that is delivering solid results, underscored by our updated fiscal 2016 estimates and confidence that we will build on this performance in fiscal 2017,” said Wilson R. Jones, Oshkosh Corporation president and chief executive officer. “Looking to next year, we anticipate increases in revenue, operating income and EPS despite expected lower sales and operating income in our access equipment segment.
“Longer-term, we expect strong free cash flow over the cycle to provide capital allocation alternatives that will benefit our shareholders. We expect to achieve our fiscal 2017 estimates through the continued execution and evolution of our MOVE strategy, which has delivered for customers and shareholders alike over the last several years. We look forward to sharing more about our objectives and plans to continue driving shareholder value this morning during our Analyst Day.”
The company’s updated estimates for fiscal 2016 include:
- Revenues of $6.1 billion to $6.2 billion
- Adjusted operating income of $360 million to $375 million
- Adjusted EPS of $2.85 to $3.00
Oshkosh now believes it will deliver stronger than previously expected performance in the fiscal fourth quarter of 2016 as a result of expected higher deliveries of M-ATVs in the company’s defense segment, access equipment segment sales at the high end of prior expectations and a lower tax rate.
The company’s initial estimates for fiscal 2017 include:
- Revenues of $6.5 billion to $6.7 billion
- Operating income of $390 million to $430 million
- EPS of $3.00 to $3.40
The Oshkosh 2016 Analyst Day presentation and webcast will be available on the Investor Relations portion of Oshkosh’s website, at http://investor.oshkoshcorporation.com .